PHARON Medical and Health Products Group, the largest private enterprise in Shenyang, has been authorised by the China Securities Regulatory Commission to become an H-share on the Hong Kong Stock Exchange. The group was preparing listing procedures, said Jiang Wei, chairman of Pharon Group (HK) Ltd, one of the group's subsidiaries. The company's fixed assets amounted to 60 million yuan (about HK$54 million), while total assets were about 400 million yuan, he said. Capital repatriation of the enterprise is 67 per cent and export value averages US$10 million annually. Mr Jiang said that while 70 per cent of the enterprise's capital would still be invested in medical and health products, the rest would be put into other types of industry and finance. Pharon ranked sixth among private enterprises in the country in 1992, according to a report compiled by the All-China Federation of Industry and Commerce that year. Mr Jiang made his comments at a trade talk organised by the Shenyang People's Government in Hong Kong yesterday. Shenyang has 38 state enterprises which have been declared bankrupt, most of which are small and medium-sized firms. 'The two major problems of the bankrupt enterprises are the loans they owe to the bank and the replacement of unemployed workers,' said Zhang Fuqing, vice-secretary general of the Shenyang People's Government. But he gave no details of the amount of bad debt involved. and the number of enterprises that would go bankrupt next year.